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AUTO1 Group sets new standards with its inhouse AI-powered damage detection technology
Berlin, 26 September, 2024 – AUTO1 Group SE, Europe's leading digital automotive platform for buying and selling used cars, today announced the launch of AUTO1 Car Audit Technology (CAT), its inhouse AI-powered vehicle damage detection technology. With AUTO1 CAT, AUTO1 Group is laying the foundation to substantially improve the efficiency of vehicle inspections. AUTO1 CAT is setting new standards in the vehicle inspection process, already detecting around 90% of damages such as dents and scratches. Szymon Pasko, VP Engineering of AUTO1 Group: “I am thrilled that our investments to date are yielding strong results with significantly improved productivity. Our team did a tremendous job developing and refining our inhouse damage detection technology. I am excited to see it in operation in our flagship production center in Germany. We are already reaching impressive damage detection accuracy, which will improve exponentially as we use AUTO1 CAT on hundreds of cars each week, enhancing the AI with every inspection.” AUTO1 CAT is seamlessly integrated into AUTO1 Group’s internal refurbishment systems and processes. The AI-powered damage detection is the first process step for all Retail cars at the production center in Berlin/Brandenburg. It delivers accurate damage information in real-time to car inspectors. AUTO1 CAT consists of a hardware scanner, which detects damages of the body within seconds through taking pictures with several cameras, as well as embedded software to analyze and record the damages to enhance the Group’s digital workflow. In addition, AUTO1 Group has built an AI-powered image recognition technology, which assesses the condition of the vehicles based on the scans. Karol Niznik, SVP Production, Logistics and Procurement of AUTO1 Group: “I am very happy to integrate our AI-powered damage detection technology into our production center processes to improve efficiency. We are receiving very positive feedback from our car inspectors on AUTO1 CAT, as it enables them to detect damages faster and more accurately. The first results are very promising already and we look forward to developing AUTO1 CAT further as we scale our used car production.” Christian Bertermann, CEO and Co-founder of AUTO1 Group: “Our inhouse damage detection technology allows us to further enhance operational leverage in our used car production centers and will positively impact lead times. I am proud of our talented tech and production center teams for driving innovation and developing cutting-edge technologies.” About AUTO1 Group Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a used car. AUTO1 Group is operating in over 30 countries and generated a revenue of EUR 5.5 billion in 2023. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884.
For more information please visit www.auto1-group.com
Investor Relations contact Philip Reicherstorfer Group Treasurer Phone: +49 (0)30 - 2016 38 213 Email: ir@auto1-group.com
Media Relations contact Christine Preyer Director Communications & PR Phone: +49 (0)175 64 59 192 Email: press@auto1-group.com
End of Media Release Issuer: AUTO1 Group SE Key word(s): Research/Technology
26.09.2024 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | AUTO1 Group SE |
| Bergmannstr. 72 | |
| 10961 Berlin | |
| Germany | |
| E-mail: | ir@auto1-group.com |
| Internet: | https://www.auto1-group.com |
| ISIN: | DE000A2LQ884 |
| WKN: | A2LQ88 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1995655 |
| End of News | EQS Media |
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1995655 26.09.2024 CET/CEST
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